The CEOs of manufacturing industry are warning that production in Germany is at risk because of low energy prices in the United States. The energy prices there are now only a third of those in Germany.

All this suggests that our climate continues to warm gradually, as it has done since early in the 19th century (which is long before CO2 concentrations started to rise). It may be more plausible to conclude that global warming is around 1°C per century with periods of faster and slower growth fluctuating around the trend, rather than the 3°C predicted by the IPCC. If so what is happening is interesting but it hardly justifies the epithet alarming.